135: The Best Monetization Strategy: Niche Podcasting, with Ashley Hodge

Sometimes I think of podcasting as “The Great Equalizer.” Why would I say that? Because no longer do giant media conglomerates have exclusive power to decide who gets to broadcast a message or not. We the people get to publish whatever we want to publish. That’s cool. That’s an overall WIN in my book.

Ashley Hodge is a perfect example of that reality in action. He’s a self-confessed “academic slacker” who slept through class during his High School years, only interested in playing basketball. Once he hit college, he chose the school he did only because there were cute girls there and a decent football program. Wow. Now THAT is some high ideals, huh?

But once he grew up a little bit Ashley realized that he’d been given a tremendous opportunity. He could choose what to do with his life and how to educate himself to accomplish it. So he got busy.

In this episode, Ashley shares how he got started as a financial planner, eventually hosted a call-in radio show, and one day made the pivot into podcasting – which has proven to be one of the BEST content marketing channels in his arsenal, consistently leading new listeners to become new clients, which means new (and more) revenue.

You’ll benefit from listening to this episode if you…

>> Wonder of podcasting is something you could do

>> Have been trying to figure out how to attract sponsors (Please, don’t. Try Ashley’s approach instead).

>> Are interested in serving others through a podcast and are more interested in relationships than revenue (at least at first).

>> Have an area of expertise that you are passionate about that you can’t help but share with the world.

>> Are eager to find the people who resonate with the topics you are most passionate about

>> Would like to know how Ashley generates over $25K per year from 6 hours per month working on his podcast

>> Experienced advice about how to get started with your own podcast, including content ideas and createion

Play the Espisode Here

Reach out to Ashley

Podcasting is a great way to reach the people who care about the things you care about

When you listen carefully to what Ashley has to share on this episdoe you’ll hear how the things he believes (his spiritual beliefs) have influenced the way he does business (financial planning and wealth management). He’s one of those refreshing examples of a person with spiritual beliefs who isn’t pushy about it, but rather is consistent in living it out. I think we can use a LOT more of that in the world.

Hosting a radio show taught Ashley how important it is to provide valuable content to interested people

You probably haven’t had the opportunity to host your own call-in radio show like Ashley did. But you’d be smart to pay attention to the things he learned from the experience. Week after week people called in with their specific financial problems, questions, and concerns. He and his partner at the time were able to answer their questions, demonstrating their knowledge and expertise in a generous way, and quickly discovered that it was an amazing way to build trust with people who needed someone like them to help with their money management needs.

Niche Podcasting: The secret sauce to a long-standing and potentially lucrative monetization approach

Whatever you’re jazzed to podcast about, there are many, many MANY people out there who are just as interested in the smae topics. The BEST form of podcast monetization happens when you are able to find those people, care for them well, and provide resources to them that they eagerly want to buy.You’ve got to find them and serve them well. Ahsley discovered this and articulates it by delineating the difference between…

“Clients” (those with whom you have a relationship based on mutual trust)

“Customers” (those who see you as a resource but nothing more).

In terms of podcasting, that distinction is understood more by the terms of “listeners” and “enthusiastic fans.” When you have listeners, that’s good, we all have to start there. But they willl abaondon your show the minute something more entertaining or more appealing comes their way.

But fans of your podcast have experienced tremendous personal benefits from listening to your show. They are committed to your show, will share it with others, and will not easily abandon you because you’ve invested in their lives.

$25,000 in new personal revenue during his first year of podcasting. THAT is podcast monetization!

Ashley wasn’t some future-gazing genius who knew exactly what was going to come from starting his own podcast. But he felt that the same kind of lead generation he experienced co-hosting the radio show was likely to happen through a podcast.

So he got started. Relationships he already had with clients that weren’t very deep, got stronger. Those clients reached out to initiate a deeper relationship and some of them asked him to manage even more of their assets.

But there were also new clients who came his way because of his podcast. Who knows how they found him — perhaps a current listener shared the episode with them, maybe they searched Apple Podcasts for the topic of “stewardship” (the core of Ashley’s philosophy) — but 3 to 4 people during his first year specifically mentioned that the podcast was the primary way in which they found Ashely, became familiar with his investment philosophy, and built up enough trust for him that they picked up the phone to call.

“I think podcasting is a great tool for any business person to use to reach their audience, to reinforce their values, and to really find that connection. We all do better with clients who share the same values.” ~Ashley Hodge